Chattanooga Symphony And Opera Association
- Assets
- $1.7m
- Revenue
- $1.7m
- Investments
- $1.5m
- Employees
- 226
- Location
- Chattanooga, TN
- Founding
- 12/1951
- Data as of
- 05/2023
- EIN
- 62-6002098
Organization Overview
Chattanooga Symphony And Opera Association is located in Chattanooga, TN. The organization was established in 1951. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 05/2023, Chattanooga Symphony And Opera Association employed 226 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chattanooga Symphony And Opera Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2023, Chattanooga Symphony And Opera Association generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $2.7m during the year ending 05/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE, ENGAGE & ENRICH THE GREATER CHATTANOOGA COMMUNITY THROUGH MUSIC AND MUSIC EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCES A VARIETY OF LIVE MUSICAL PERFORMANCES OF SYMPHONY, OPERA AND POPS FOR A VARIETY OF AUDIENCES.
PROVIDES EDUCATIONAL PROGRAMS
PROVIDES A YOUTH ORCHESTRA FOR THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Warren Barnett Executive Committee At Lar | Trustee | 2 | $0 |
Katie Byrum Director | Trustee | 2 | $0 |
Mitch Carter Director | Trustee | 2 | $0 |
Alice Marie Clark Danks Chair - Finance | Trustee | 2 | $0 |
Jo Coke Executive Committee At Lar | Trustee | 2 | $0 |
Bridget J Gibson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $152,034 |
| All other contributions, gifts, grants, and similar amounts not included above | $987,005 |
| Noncash contributions included in lines 1a–1f | $93,823 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,139,039 |
| Total Program Service Revenue | $569,656 |
| Investment income | $82,382 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$95,573 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,696,238 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,576 |
| Compensation of current officers, directors, key employees. | $97,576 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,543,302 |
| Pension plan accruals and contributions | $59,911 |
| Other employee benefits | $118,442 |
| Payroll taxes | $118,690 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,855 |
| Fees for services: Accounting | $16,505 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,028 |
| Advertising and promotion | $75,446 |
| Office expenses | $26,033 |
| Information technology | $66,462 |
| Royalties | $0 |
| Occupancy | $54,753 |
| Travel | $50,485 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,225 |
| Interest | $17,937 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,143 |
| Insurance | $20,884 |
| All other expenses | $16,864 |
| Total functional expenses | $2,667,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $484 |
| Savings and temporary cash investments | $75,574 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,266 |
| Investments—publicly traded securities | $122,100 |
| Investments—other securities | $1,540,988 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,375 |
| Total assets | $1,747,787 |
| Accounts payable and accrued expenses | $179,406 |
| Grants payable | $0 |
| Deferred revenue | $139,937 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $245,220 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $564,563 |
| Net assets without donor restrictions | -$357,037 |
| Net assets with donor restrictions | $1,540,261 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,747,787 |